LIGOCON
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 30-10-2026 at the NBB all 19 filings
Turnover
≈ €510,000
Estimated: probably between €360,000 and €890,000
Total assets
€2.9m▼ 25.0%
2025 · €3.9m
Net result
€46,794▲ 266%
2025 · €12,777
Working capital
€1.4m▼ 38.4%
2025 · €2.4m
In the rankings
#4 company by total assets in Herzele, Construction sector
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€82,929
▲ 141%
2026
20192026
Net result
€46,794
▲ 266%
2026
20192026
Equity
€572,887
▲ 8.9%
2026
20192026
Total assets
€2.9m
▼ 25.0%
2026
20192026
Debt
€2.3m
▼ 30.3%
2026
20192026
Working capital
€1.4m
▼ 38.4%
2026
20192026
Solvency
19.6%
▲ 6.1pp
2026
20192026
Current ratio
1.98
▼ 0.54
2026
20192026
Return on assets (ROA)
1.6%
▲ 1.3pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.02m-€0.03m▲ 17.7%€0.09m▲ 257%€0.1m▲ 23.2%€0.2m▲ 107%€0.2m▲ 0.9%€0.03m▼ 85.8%€0.08m▲ 141%
Net result€0.01m-€0.02m▲ 31.9%€0.06mabove the sector's middle half▲ 292%€0.07mabove the sector's middle half▲ 20.8%€0.2mabove the sector's middle half▲ 115%€0.2mabove the sector's middle half▼ 0.3%€0.01mwithin the sector's middle half▼ 91.8%€0.05m▲ 266%
Equity€0.08m-€0.09m▲ 19.9%€0.2mabove the sector's middle half▲ 65.1%€0.2mabove the sector's middle half▲ 47.6%€0.4mabove the sector's middle half▲ 69.4%€0.5mabove the sector's middle half▲ 36.3%€0.5mabove the sector's middle half▲ 0.8%€0.6m▲ 8.9%
Total assets€1.0m-€1.0m▲ 5.4%€1.5mabove the sector's middle half▲ 48.8%€1.9mabove the sector's middle half▲ 24.3%€3.3mabove the sector's middle half▲ 72.7%€3.5mabove the sector's middle half▲ 5.6%€3.9mabove the sector's middle half▲ 11.2%€2.9m▼ 25.0%
Debt€0.9m-€0.9m▲ 4.2%€1.4m▲ 47.2%€1.7m▲ 21.8%€2.9m▲ 73.1%€3.0m▲ 1.6%€3.4m▲ 13.0%€2.3m▼ 30.3%
Working capital€0.4m-€0.4m▼ 13.9%€0.5mabove the sector's middle half▲ 43.7%€1.5mabove the sector's middle half▲ 197%€2.5mabove the sector's middle half▲ 67.2%€2.8mabove the sector's middle half▲ 9.2%€2.4mabove the sector's middle half▼ 14.9%€1.4m▼ 38.4%
Solvency7.9%-9.0%▲ 1.1pp9.9%below the sector's middle half▲ 1.0pp11.8%below the sector's middle half▲ 1.9pp11.6%below the sector's middle half▼ 0.2pp14.9%below the sector's middle half▲ 3.4pp13.5%below the sector's middle half▼ 1.4pp19.6%▲ 6.1pp
Current ratio1.72-1.52▼ 0.201.49within the sector's middle half▼ 0.034.76above the sector's middle half▲ 3.264.25above the sector's middle half▼ 0.514.77above the sector's middle half▲ 0.522.53within the sector's middle half▼ 2.241.98▼ 0.54
Return on assets (ROA)1.2%-1.5%▲ 0.3pp3.9%within the sector's middle half▲ 2.4pp3.8%within the sector's middle half▼ 0.1pp4.7%within the sector's middle half▲ 0.9pp4.5%within the sector's middle half▼ 0.3pp0.3%within the sector's middle half▼ 4.1pp1.6%▲ 1.3pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 141% higher than in 2025. It is a recovery after the fall in 2025.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Equity and liabilities €2.9m
Equity
€572,887 ▲ 8.9%
Debt
€2.3m ▼ 30.3%
Debt's share of the balance-sheet total falls from 86.5% to 80.4%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
0.36▲
2025 · 0.23
Debt to equity
4.09▼
2025 · 6.39
ROE
8.2%▲
2025 · 2.4%
Debt ≤ 1 year
€1.5m▼
2025 · €1.5m
Debt > 1 year
€861,739▼
2025 · €1.8m
Income taxes
€21,837▲
2025 · €5,998
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €150,000 | €250,000 | €450,000 | €400,000 | €475,000 |
| Mortgage mandates | €432,500 | €2.8m | €2.7m | €3.1m | €1.9m |
| Carrying value of the mortgaged assets | €1.3m | €3.1m | €3.2m | €3.5m | €2.4m |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - | -€2,500 | €0 | - |
| Other operating charges640/8 | - | - | - | €9,908 | €17,569 | €9,757 | €37,722 | €15,519 | ▼ 58.9% |
| Gross operating margin9900 | €51,712 | €29,417 | €98,706 | €126,465 | €258,559 | €252,925 | €69,655 | €98,448 | ▲ 41.3% |
| Operating profit (loss)9901 | €22,506 | €26,489 | €94,638 | €116,557 | €240,990 | €243,168 | €34,433 | €82,929 | ▲ 141% |
| Financial income75/76B | - | - | - | €500 | €0 | €17 | €12 | €27 | ▲ 125% |
| Recurring financial income75 | €100 | €240 | €0 | €500 | €0 | €17 | €12 | €27 | ▲ 125% |
| Financial charges65/66B | - | - | - | €8,185 | €9,785 | €13,489 | €15,670 | €14,325 | ▼ 8.6% |
| Recurring financial charges65 | €3,074 | €2,968 | €1,765 | €8,185 | €9,785 | €13,489 | €15,670 | €14,325 | ▼ 8.6% |
| Profit (loss) for the period before taxes9903 | €19,532 | €23,761 | €92,873 | €108,873 | €231,206 | €229,696 | €18,775 | €68,632 | ▲ 266% |
| Income taxes67/77 | €7,844 | €8,341 | €32,495 | €35,916 | €74,346 | €73,268 | €5,998 | €21,837 | ▲ 264% |
| Profit (loss) for the period9904 | €11,688 | €15,421 | €60,378 | €72,957 | €156,860 | €156,428 | €12,777 | €46,794 | ▲ 266% |
| Profit (loss) for the period to be appropriated9905 | €11,688 | €15,421 | €60,378 | €72,957 | €156,860 | €156,428 | €12,777 | €46,794 | ▲ 266% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.5m | €1.9m | €3.3m | €3.5m | €3.9m | €2.9m | ▼ 25.0% |
| Current assets29/58 | €1.0m | €1.0m | €1.5m | €1.9m | €3.3m | €3.5m | €3.9m | €2.9m | ▼ 25.0% |
| Stocks and contracts in progress3 | €0.9m | €0.9m | €1.3m | €1.6m | €3.1m | €3.3m | €3.5m | €2.4m | ▼ 32.4% |
| Stocks30/36 | - | - | - | €1.6m | €3.1m | €3.3m | €3.5m | €2.4m | ▼ 32.4% |
| Amounts receivable within one year40/41 | €0.05m | €0.1m | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 19.4% |
| Trade receivables40 | - | - | - | €0.001m | €0 | €0.001m | €0 | €0.001m | - |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 19.8% |
| Cash at bank and in hand54/58 | €0.02m | €0.04m | €0.1m | €0.2m | €0.1m | €0.08m | €0.1m | €0.3m | ▲ 181% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - | - | €232 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.5m | €1.9m | €3.3m | €3.5m | €3.9m | €2.9m | ▼ 25.0% |
| Equity10/15 | €0.08m | €0.09m | €0.2m | €0.2m | €0.4m | €0.5m | €0.5m | €0.6m | ▲ 8.9% |
| Contributions10/11 | €0.06m | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.02m | €0.03m | €0.09m | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | ▲ 10.1% |
| Non-distributable reserves130/1 | - | - | - | €0.001m | €0.001m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.001m | €0.001m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | ▲ 10.1% |
| Profit (loss) carried forward14 | -€0.005m | €0.002m | €0.002m | €0.002m | €0.002m | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.9m | €0.9m | €1.4m | €1.7m | €2.9m | €3.0m | €3.4m | €2.3m | ▼ 30.3% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.4m | €1.3m | €2.1m | €2.2m | €1.8m | €0.9m | ▼ 52.4% |
| Financial debts170/4 | - | - | - | €1.3m | €2.1m | €2.2m | €1.8m | €0.9m | ▼ 52.4% |
| Amounts payable within one year42/48 | €0.6m | €0.7m | €1.0m | €0.4m | €0.8m | €0.7m | €1.5m | €1.5m | ▼ 4.4% |
| Financial debts43 | - | - | - | €0.1m | €0.4m | €0.4m | €0.9m | €0.7m | ▼ 15.1% |
| Credit institutions430/8 | - | - | - | €0.1m | €0.008m | €0.4m | €0.9m | €0.7m | ▼ 15.1% |
| Other loans439 | - | - | - | - | €0.4m | €0 | - | - | - |
| Trade debts44 | €0.01m | €0.02m | €0.001m | €0.004m | €0.01m | €0.003m | €0.008m | €0.001m | ▼ 93.4% |
| Suppliers440/4 | - | - | - | €0.004m | €0.01m | €0.003m | €0.008m | €0.001m | ▼ 93.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.05m | €0.02m | €0 | - | - |
| Taxes450/3 | - | - | - | €0.001m | €0.05m | €0.02m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.3m | €0.7m | €0.7m | ▲ 10.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.007m | €0.01m | €0.02m | €0.01m | ▼ 14.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,688 | €15,421 | €60,378 | €72,957 | €156,860 | €156,428 | €12,777 | €46,794 | ▲ 266% |
| Operating cash flow (approximation) | €11,688 | €15,421 | €60,378 | €72,957 | €156,860 | €156,428 | €12,777 | €46,794 | ▲ 266% |
| Change in cash | - | €26,284 | €91,262 | €57,414 | -€71,291 | -€40,185 | €41,343 | €219,236 | ▲ 430% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,685 companies had the same profile as LIGOCON has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.9%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of LIGOCON itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,685 companies, not a prediction for LIGOCON. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 30-10-2026 | 2026-00595633 | |
| 31-03-2025 | micro format | 30-10-2025 | 2025-00555628 | |
| 31-03-2024 | micro format | 29-10-2024 | 2024-00517807 | |
| 31-03-2023 | micro format | 27-10-2023 | 2023-00494332 | |
| 31-03-2022 | micro format | 26-10-2022 | 2022-20472550 | |
| 31-03-2021 | micro format | 15-10-2021 | 2021-71900435 | |
| 31-03-2020 | micro format | 31-10-2020 | 2020-66200421 | |
| 31-03-2019 | micro format | 16-10-2019 | 2019-70200451 | |
| 31-03-2018 | micro format | 30-10-2018 | 2018-71100477 | |
| 31-03-2017 | micro format | 30-10-2017 | 2017-68400485 |